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iBasis CFO to Discuss Company's Profitability and Growth at Cowen and Company Technology Conference

BURLINGTON, MA — May 31, 2006 — iBasis, the global VoIP company™, today announced that Sr. Vice President of Finance and CFO Richard Tennant will discuss the company's growing profitability, record first quarter revenues and gross profit, and the continuing growth opportunities in international VoIP services at the Cowen and Company 34th Annual Technology Conference in New York at 11:00 a.m. on Thursday, June 1, 2006. Mr. Tennant's presentation will be posted on the iBasis investor relations site at investor.ibasis.com.

Mr. Tennant will discuss the improving profitability of the iBasis business, which is the result of the growth rate of iBasis' traffic far outpacing the rate of pricing and margin compression, as demonstrated in its Q1 2006 performance. He will also address the major industry trends driving growth, including the consumer VoIP sector in which iBasis has become a leading wholesale service provider, with more than 35 consumer VoIP companies, including Skype and Yahoo! among its customers.

About the Conference The Cowen and Company 34th Annual Technology Conference will take place Wednesday, May 31 through Friday, June 2, 2006 at The New York Palace Hotel located at 50th and Madison in New York City. For more information visit the Cowen and Company web site at www.cowen.com.

About iBasis Founded in 1996, iBasis (OTCBB: IBSE) is a leading wholesale carrier of international long distance telephone calls and a provider of retail prepaid calling services, including the Pingo® web-based offering (www.pingo.com) and disposable calling cards, which are sold through major distributors and available at retail stores throughout the U.S. iBasis customers include many of the largest telecommunications carriers in the world, including AT&T, Cable & Wireless, China Mobile, China Unicom, Verizon, Sprint, Skype, Yahoo, and Telefonica. For four consecutive years service providers named iBasis the best international wholesale carrier in ATLANTIC-ACM's annual International Wholesale Carrier Report Card . The Company can be reached at its worldwide headquarters in Burlington, Massachusetts, USA at 781-505-7500 or on the Internet at www.ibasis.com.

   
 
 
     

 

 


1 ATLANTIC-ACM International Wholesale Carrier Report Card—2002, 2003, 2004, & 2005.

iBasis and Pingo are registered marks; The iBasis Network and the global VoIP company are trademarks of iBasis, Inc. All other trademarks are the property of their respective owners.

Except for historical information, all of the expectations, plans and assumptions contained in the foregoing press release constitute forward-looking statements under Section 21E of the Securities Exchange Act of 1934 and involve risks and uncertainties. Important factors that could cause actual results to differ materially from such forward-looking statements include, but are not limited to, (i) the Company's ability to execute its business plan; (ii) the Company's ability to meet the listing requirements of NASDAQ, (iii) the extent of adoption of the Company's services and the timing and amount of revenue and gross profit generated by these services; (iv) fluctuations in the market for and pricing of these services; and (v) the other considerations described as "Risk Factors" in the Company's most recent Forms 10-K and 10-Q, and the Company's other SEC filings. Such forward-looking statements are only as of the date they are made, and we have no current intention to update any forward-looking statements.